Peter Fox, WalletHub Analyst
Yes, Capital One Spark Classic for Business will do a hard pull on your credit report when your application is evaluated. It is designed for applicants with limited credit (less than 3 years of credit history), but other factors will also be taken into consideration. These include your income, debts and overall ability to make credit card payments.
A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people’s scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months. You can take a look at some tips on how to minimize credit score damage caused by a hard pull. You can also sign up for a free WalletHub account and use the Credit Simulator tool to test out the effect various scenarios have on your credit score.
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